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Economics 101

Professor Fred Thompson

While everyone is caught up in the Palin vs. MSM controversy, some important points fly by without the attention they deserve.

One of the points Fred made in his speech last night cannot be made often or strongly enough…

Now our opponents tell you not to worry about their tax increases.

They tell you they are not going to tax your family.

No, they’re just going to tax “businesses”! So unless you buy something from a “business”, like groceries or clothes or gasoline … or unless you get a paycheck from a big or a small “business”, don’t worry … it’s not going to affect you.

They say they are not going to take any water out of your side of the bucket, just the “other” side of the bucket! That’s their idea of tax reform.

Whenever you hear a Democrat talk about raising Corporate taxes, remember that a corporation exists to make money. Democrats always seem to vilify this activity, but, hey, here’s a news flash… the government doesn’t create jobs*… never has, never will. Private individuals, partnerships and corporations do. If a new or increased tax is imposed on a corporation or an entrepreneur, that cost will either be factored in to the cost of doing business, or the business will cease to operate leaving anyone employed by that business unemployed.

It’s kind of hard to capture in a sound byte, and most folks have the attention span of a gnat, but this point should be hammered home early and often.

Like the “Big Oil Windfall Profits Tax” advocated by BHO. Again, corporations have a fiduciary responsibility to protect and grow shareholder equity. Ergo, windfall profits tax is reflected in higher gasoline price at the pump. This is not rocket science, but someone needs to beat this drum long and loud!

When you think about it, there really shouldn’t be any corporate taxes at all!

*For those of you who think the government does create jobs, consider that it was probably some government regulation that kept the job from being created in the first place. Eliminating artificial government-imposed barriers allows the free market to prevail and these jobs become economically viable.